Assetmark Inc. Boosts Position in Duke Energy Corporation $DUK

Assetmark Inc. boosted its holdings in Duke Energy Corporation (NYSE:DUK) by 14.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 141,471 shares of the utilities provider’s stock after acquiring an additional 17,802 shares during the period. Assetmark Inc.’s holdings in Duke Energy were worth $18,524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. NovaPoint Capital LLC increased its holdings in shares of Duke Energy by 8.2% during the 1st quarter. NovaPoint Capital LLC now owns 11,734 shares of the utilities provider’s stock worth $1,536,000 after buying an additional 885 shares during the last quarter. PeakShares LLC boosted its holdings in Duke Energy by 7.4% in the first quarter. PeakShares LLC now owns 9,204 shares of the utilities provider’s stock valued at $1,205,000 after acquiring an additional 636 shares during the last quarter. Paradigm Capital Management LLC NV grew its position in Duke Energy by 7.1% during the first quarter. Paradigm Capital Management LLC NV now owns 6,701 shares of the utilities provider’s stock valued at $877,000 after acquiring an additional 442 shares during the period. Angeles Wealth Management LLC grew its position in Duke Energy by 6.3% during the first quarter. Angeles Wealth Management LLC now owns 7,532 shares of the utilities provider’s stock valued at $986,000 after acquiring an additional 447 shares during the period. Finally, Bessemer Group Inc. increased its stake in Duke Energy by 1.5% during the first quarter. Bessemer Group Inc. now owns 1,200,569 shares of the utilities provider’s stock worth $157,202,000 after acquiring an additional 17,355 shares during the last quarter. 65.31% of the stock is currently owned by hedge funds and other institutional investors.

Duke Energy Stock Up 0.0%

Shares of NYSE:DUK opened at $125.04 on Monday. The firm has a market cap of $97.48 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.38. The company has a fifty day simple moving average of $124.89 and a 200 day simple moving average of $125.48. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. Duke Energy Corporation has a 12-month low of $113.89 and a 12-month high of $134.49.

Duke Energy (NYSE:DUK) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.06. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. Duke Energy had a net margin of 15.49% and a return on equity of 9.73%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 EPS. On average, equities research analysts anticipate that Duke Energy Corporation will post 6.72 EPS for the current fiscal year.

Duke Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be given a $1.085 dividend. This represents a $4.34 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, August 14th. This is a positive change from Duke Energy’s previous quarterly dividend of $1.06. Duke Energy’s payout ratio is 65.24%.

Insider Buying and Selling

In other Duke Energy news, CEO Harry K. Sideris sold 20,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $124.37, for a total transaction of $2,487,400.00. Following the completion of the sale, the chief executive officer owned 96,102 shares in the company, valued at $11,952,205.74. The trade was a 17.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Louis E. Renjel sold 3,500 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $125.15, for a total transaction of $438,025.00. Following the sale, the chief executive officer directly owned 21,415 shares in the company, valued at $2,680,087.25. This trade represents a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by insiders.

Duke Energy News Summary

Here are the key news stories impacting Duke Energy this week:

• Positive Sentiment: Truist raised its price target on Duke Energy to $138 and reiterated a Buy rating, signaling confidence in the utility’s earnings outlook and suggesting meaningful upside from current levels. Benzinga report on Truist rating update
• Positive Sentiment: JPMorgan also lifted its price target to $141, even while keeping a Neutral rating, which still reflects expectations for solid longer-term value creation. Benzinga report on JPMorgan target increase
• Positive Sentiment: Recent commentary highlighted Duke Energy as one of the utilities best positioned for long-term growth thanks to its strong customer base and large capital expenditure program, with analysts pointing to contracted load and new demand from data centers as supportive of future earnings. Seeking Alpha article
• Neutral Sentiment: Duke Energy is expected to report second-quarter results next month, and analysts are looking for a modest earnings increase, keeping attention on whether the company can deliver on its growth plans. Barchart article
• Neutral Sentiment: Local coverage suggests Clearwater may renew its long-term electricity contract with Duke Energy, which would help preserve customer relationships and support revenue stability. Yahoo Finance article
• Negative Sentiment: North Carolina’s attorney general is challenging proposed Duke Energy Progress rate increases, adding another regulatory hurdle that could limit future pricing power and earnings growth. MSN article
• Negative Sentiment: Additional reports say AG Jeff Jackson is seeking to block nearly $1 billion in Duke Energy rate hikes over the next two years, reinforcing investor concerns about regulatory pushback on returns. Yahoo News article

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Duke Energy from $136.00 to $141.00 and gave the company a “neutral” rating in a research note on Thursday. BTIG Research reissued a “buy” rating and set a $139.00 target price on shares of Duke Energy in a research report on Tuesday, June 2nd. BMO Capital Markets cut their price target on shares of Duke Energy from $139.00 to $138.00 in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on shares of Duke Energy from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Finally, Jefferies Financial Group dropped their price objective on shares of Duke Energy from $143.00 to $138.00 in a research report on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $138.73.

Duke Energy Company Profile

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.